Press Releases

Looking Ahead: An Update from Manheim President Grace Huang
June 9, 2020

Since my last update, I’m happy to report that we are continuing to experience positive signs of growth, including significant demand for used vehicles and record participation on our digital platforms. Recently, nearly 23,000 vehicles were sold on Simulcast in a single day, and OVE saw an 81% increase in sales in one week. As a result, we are bringing back hundreds more of our furloughed team members to support rising client needs.

While our industry adapts to the changes brought on by COVID-19, two areas that remain critical to success are transparency and efficiency. For Manheim, transparency is about ensuring that vehicle information – such as condition reports and images – is accurate, consistent and actionable. This cannot be overstated, especially as more business is conducted sight unseen. And, as the speed of business accelerates, we believe it is more important than ever that both our physical and digital interactions are as efficient as possible to help drive better performance for us and our clients. Examples of these commitments in action are our Manheim Express app, collaborative Market Center structure, and Ready Logistics transportation status tracker. We will continue to invest in these and other areas to enrich the digital auction experience for clients.

And, as always, health and safety remain at the center of everything we do. Each day, our teams carefully consider how to re-open operations. After recent evaluations, we have decided to make additional changes. These include:

  • Allowing sellers to rep vehicles on the block beginning June 8. This decision was made after establishing strict safety protocols that meet our own standards as well as local and state directives.
  • Opening more lots for clients to preview inventory, as directives allow. Today, more than 90% of our sites offer expanded viewing days and times, and clients continue to tell us this is helping them drive greater sales results. 
  • Organizing vehicles as space permits, with increasing sales freeing up capacity to stage more vehicles.
  • Planning to pilot In-lane bidding later this month. This change will require strict protocols, including redesigned auction blocks with Plexiglas guards, new distancing requirements and enhanced safety measures. Should social distancing violations occur, or we experience a rise in COVID-19 hot spots, this pilot program will be suspended.

Ongoing Policies

  • Manheim will continue to offer support to dealers by:  
    • Waiving Simulcast buyer and seller success fees
    • Waiving the Manheim Express sell fee for all self-listed vehicles
    • Offering daily MMR retention values to help with vehicle valuations during volatile market conditions
    • Waiving fee for vehicles sold without a title or Title Absent (TA)
    • Temporarily changing our Arbitration policy by not allowing arbitration on a TA vehicle
    • Directing dealers to the Manheim Learning Center for ways to save time when doing business digitally 

While everyone is returning to business in different ways, we remain determined to deliver the buying and selling options our clients have asked for in the safest way possible.

Be safe and stay healthy,

 

Grace Huang
President, Manheim